Thermal Spray Coatings Market Share, Globe Key Updates, Demand, Size, and Industry Forecast to 2027
Thermal Spray Coatings Market size isexpected to showcase an exponential growth by reaching USD 17.63 billion by2027. This is attributable to the growing aerospace industry and the increasingdemand for weight reduction in aircraft to improve performance and fuelefficiency that propels the demand for innovative thermal spray coatings acrossthe globe.
Fortune Business Insights, in itslatest report, titled, “Thermal Spray Coatings Market Size,Share & COVID-19 Impact Analysis, By Material (Ceramic, Metal & Alloy,Polymer, Intermetallic, and Others), By Technology (Flame Spray, High-VelocityOxygen Fuel (HVOF) Spray, Electric Arc Spray, Plasma Spray, Cold Spray, andOthers), By Application (Aerospace, Industrial Gas Turbine, Automotive,Medical, Paper & Printing, Oil & Gas, Steel, and Others), and RegionalForecast, 2020-2027.”, observes that the market stood at USD 10.23billion in 2019 and is projected to exhibit a CAGR of 7.8% between 2020 and2027.
Limited Supply of Raw MaterialsAffecting Vertical End-user amid COVID-19
The global pandemic has to lead to acomplete halt in industrial activities across the globe. This is resulting inthe shortage of raw materials supply experienced by the vertical end-users thatis expected to create a shortfall in the demand to some extent. However, thegrowing demand for thermal spray technology by the healthcare industry isexpected to brighten the market prospects and mitigate economic loss sufferedby the market in the forthcoming years.
List of the Leading Companies Profiledin the Global Thermal Spray Coatings Market are:
- Praxair S.T. Technology, Inc. (U.S.)
- Bodycote (UK)
- Oerlikon Metco (Switzerland)
- Surface Technology UK (UK)
- H.C. Starck GmbH (Germany)
- F.W. Gartner Thermal Spraying (U.S.)
- Höganäs AB (Swedan)
- Metallisation Limited (UK)
- Flame Spray SpA (Italy)
- BryCoat Inc. (U.S.)
- Carpenter Technology Corporation (U.S.)
- A&A Thermal Spray Coatings (U.S.)
- ASB Industries, Inc. (U.S.)
- Polymet Corporation (U.S.)
- TST Coatings Inc. (U.S.)
- Other Key Players
These spray coatings are generallyadopted to either restore or improve the surface of wide range of materials.These coatings prevent the surface from erosion, abrasion, corrosion, wear andtear, and heat, among other external factors. Owing to their several benefits,they are widely adopted across several industrial applications such asautomotive, aerospace, and oil & gas.
What does the Report Include?
The market report includes quantitativeand qualitative analysis of several factors such as the key drivers andrestraints that will affect market growth. In addition to this, the reportprovides insights into the regional analysis. It includes the competitive landscapethat involves leading companies and novel products as well as majorcollaborations. The research analyst has adopted several research methodologiessuch as PESTEL and SWOT analysis to extract information about the currenttrends and industry developments that will drive the market growth in theforthcoming years.
DRIVING FACTORS
Increasing Adoption of Thermal SprayCoatings in Aerospace to Favor Growth
The growing demand to improve fuelefficiency and performance of aircraft is driving the demand for innovativespray coatings of thermal type across the aerospace industry. These coatingsprotect turbine blades of engines from extreme temperatures while ensuring highreliability of the components for longer duration. In addition to this, theincreasing refurbishment activities to replace old components of the aircraftare expected to propel the demand for these coatings across the globe.Therefore, the growing aerospace sector backed by rising travel globally isexpected to drive the global market in the forthcoming years.
SEGMENTATION
Ceramic Segment Held a Major MarketShare in 2019
The ceramic segment, based on material,held a major market share in 2019 and is expected to experience exponentialgrowth owing to the increasing adoption of ceramic coatings by the biomedicineindustry across the globe.
REGIONAL INSIGHTS
North America to Remain Dominant;Growing Aviation Sector in North America to Surge Demand
Among all the regions, North America isexpected to remain at the forefront and hold the highest position in the globalmarket in the forthcoming years. This domination is attributable to the growingaviation sector that is driving the demand for advanced thermal spray coatingto improve aircraft efficiency and prevent the components from corrosion. Theregion stood at USD 3,217.6 million in 2019.
The market in Europe is anticipated toexperience a significant growth backed by the increasing adoption of thesespray coatings over hard chrome coatings owing to stringent governmentregulations in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Major Companies Focus on Investments inR&D Activities to Brighten Market Prospects
The global thermal spray coatingsmarket is fragmented by the presence of the small, medium, and large companiesthat are focusing on investing in developing advanced thermal spray coatings toleverage the rising demand from the aerospace and automotive sector. Theadoption of strategies such as merger and acquisition, collaboration, andpartnership by key players is further expected to boost the prospects of themarket in terms of revenue during the forecast period.
Browse Detailed Summary of ResearchReport with TOC:
https://www.fortunebusinessinsights.com/thermal-spray-coatings-market-102388
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Material Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Thermal Spray Coatings Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Thermal Spray Coatings Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Material (Value)
- Ceramic
- Metal & Alloy
- Polymer
- Intermetallic
- Others
- By Technology (Value)
- Flame Spray
- High-Velocity Oxygen Fuel (HVOF) Spray
- Electric Arc Spray
- Plasma Spray
- Cold Spray
- Others
- By Application (Value)
- Aerospace
- Industrial Gas Turbine
- Automotive
- Medical
- Paper & Printing
- Oil & Gas
- Steel
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
Key Industry Development:
June 2020 – Flame Spray Spa, an Italian thermal spray coatingsspecialist, announced its investment in QIH 122 M URC Hot Isostatic Press (HIP)by Quintus Technologies. According to the company, the purchase is meant tocater to the growing demand for heat treatment and the densification ofaerospace parts and other components.
About Us:
Fortune Business Insights™ offers expert corporate analysis and accuratedata, helping organizations of all sizes make timely decisions. We tailorinnovative solutions for our clients, assisting them to address challengesdistinct to their businesses. Our goal is to empower our clients with holisticmarket intelligence, giving a granular overview of the market they areoperating in.
Our reports contain a unique mix oftangible insights and qualitative analysis to help companies achievesustainable growth. Our team of experienced analysts and consultants useindustry-leading research tools and techniques to compile comprehensive marketstudies, interspersed with relevant data.
At Fortune Business Insights™, we aimat highlighting the most lucrative growth opportunities for our clients. We,therefore, offer recommendations, making it easier for them to navigate throughtechnological and market-related changes. Our consulting services are designedto help organizations identify hidden opportunities and understand prevailingcompetitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-thermal-spray-coatings-market-10234
